Questions to Ask at Your Exchange Appointment

From Recaps Archives

Take what you like and leave the rest:  

REVISED AND UPDATED LIST OF (61) QUESTIONS YOU MAY WANT TO ASK AT YOUR BANK APPOINTMENT

THE QUESTIONS:

1. WHAT TYPE OF BANK ACCOUNTS DO YOU HAVE AVAILABLE?

2. WHAT IS THE FDIC COVERAGE ON THIS ACCOUNT?

3. CAN YOU EXPLAIN TO ME HOW THE FOLLOWING BANK ACCOUNTS OPERATE?

A. NON INTEREST BEARING ACCOUNTS

B. MULTI CURRENCY ACCOUNTS

C. MULTIPLE CURRENCY ACCOUNTS

D.  (THE DIFFERENT TYPES AVAILABLE)

E. INTEREST BEARING ACCOUNTS

4. WHAT AMOUNT AM I REQUIRED TO LEAVE IN EACH ACCOUNT?

5. WHAT OTHER PRODUCTS AND SERVICES WILL BE PROVIDED TO ME TODAY WITH THESE ACCOUNTS?

6. WHAT ARE THE FEES ASSOCIATED WITH THESE BANK ACCOUNTS?

7. DOES YOUR BANK HAVE A WEALTH & TRUST DIVISION SEPARATE FROM THE RETAIL SIDE OF THE BANK?

8. I NEED SOME CERTIFIED CHECKS MADE PAYABLE TO (abcd) CAN YOU ASSIST ME?

9. HOW MUCH CASH CAN I TAKE WITH ME WHEN THIS APPOINTMENT IS COMPLETED?

NOTE: LIMITED CASH AND A CERTIFIED CHECK IS WHAT WE RECOMMEND

10. IF I COME BACK TO EXCHANGE MORE WILL I HAVE THIS SAME RATE?

11. WHAT PRODUCTS & SERVICES WILL THE WEALTH MANAGEMENT TEAM PROVIDE?

12. EXPLAIN TO ME HOW THE SWEEP PROCESS WILL WORK?

13. WHAT ARE THE ADVANTAGES & DISADVANTAGES OF THESE ACCOUNTS?

14. WILL LOANS  AND  LINES OF CREDIT  BE PROVIDED?

15. IS THIS ACCOUNT ACTIVE TO RECEIVE BANK WIRES NOW? (EXPLAIN THE PROCESS)

16. WHAT PRODUCTS & SERVICES WILL COME WITH THE WEALTH MANAGEMENT TEAM?

17. PLEASE GO OVER ALL OF THE DOCUMENTS WITH ME I WILL BE SIGNING?

18. TELL ME A LITTLE BIT ABOUT THE HISTORY OF THIS BANK?

19. HOW ARE MY DEPOSITS PROTECTED AGAINST BANK COLLAPSE, GOVERNMENT THEFT, AND BANK THEFT?

20. WHAT KIND OF INTEREST RATES WILL I BE LOOKING AT?

21. WHAT TYPE OF CREDIT CARDS AND DEBIT CARDS DO I QUALIFY FOR NOW?

22. WHAT ARE MY CHECKING & SAVINGS ACCOUNT OPTIONS?

23. IF I HAVE QUESTIONS TOMORROW WHO DO I  NEED TO CONTACT?

23. DO YOU HAVE A BUSINESS CARD?

24. IS THIS CURRENCY EXCHANGE TAXABLE AND WHAT IS THE RATE OF THE TAX?

25. WILL THIS TRANSACTION BE REPORTED TO FINCEN?

26. TELL ME ABOUT YOUR ONLINE BANKING (NOTE: WE DO NOT ADVISE ONLINE BANKING)

27. WHAT IS THE COST TO EXECUTE TRADES, , BONDS, ETC?

28. WHAT TYPE OF ADDITIONAL INSURANCE CAN I PLACE ON MY MONEY VIA PRIVATE

BANKING & WEALTH MANAGEMENT

29. IS THERE AN EXCHANGE WINDOW IF I HAVE MORE CURRENCY TO EXCHANGE?

30. IS MY MONEY PROTECTED AGAINST DEVALUATION OF THE USD?

31. TELL ME ABOUT YOUR BANK PERKS?

32. ARE THERE ANY STIPULATIONS WITH THE CONTRACT RATE? (IF AVAILABLE)

33. WHAT ARE THE STIPULATIONS WITH THE STREET RATE?

34. WHAT ARE THE KEY POINTS OF THE NDA (IF APPLICABLE)

35. CAN I CONTACT MY ATTORNEY BEFORE I SIGN THESE DOCUMENTS?

36. IF I DO NOT TAKE THIS APPOINTMENT WILL MY RATE CHANGE?

37. WHAT ARE THE STIPULATIONS WITH THE MARKET RATE?

38. CAN YOU SHOW ME THE RATES ON THE SCREEN PLEASE?

39. CAN I HAVE A COPY OF THE DOCUMENTS FOR MY LEGAL TEAM

TO REVIEW?

40. WILL THE RATE DROP IF I COME BACK TO EXCHANGE MORE CURRENCY?

41. IF I HAVE MORE CURRENCY CAN I COME BACK AND EXCHANGE AT SAME RATE?

42. IF I HAVE MORE CURRENCY ARE THERE DIFFERENT RATE TIERS?

43. ARE THERE ANY TIME LIMITS ON RATES OF EXCHANGE?

44. CAN YOU EXCHANGE INTO LOWER DENOMINATIONS?

45. IS THERE AN EXPIRATION ON THE LARGE NOTES?

46. IS THERE A CAP ON THE AMOUNT I CAN EXCHANGE WITH YOUR BANK?

47. CAN YOUR BANK ASSIST ME WITH RESERVES/LAYAWAYS AND HOW
DOES THAT PROCESS WORK?

48. CAN I EXCHANGE WITH MY LLC, IBC OR TRUST?

49. AM I EXCHANGING INTO NEW TREASURY NOTES?

50. IF I USE AN MCA ACCOUNT WILL MY CURRENCY STAY IN THE CURRENCY OR CONVERT TO USD.

51. WHAT IS THE INSURANCE COVERAGE ON MY DEPOSITS?

52. AM I EXCHANGING INTO FEDERAL RESERVE NOTES OR TREASURY NOTES?

53. CAN YOU EXPLAIN YOUR BANKS BASEL STATUS & HOW DID YOUR BANK RATE IN BANK STRESS TESTS?

54. HOW MUCH DOES YOUR BANK HAVE IN DERIVATIVES?

55. HOW WOULD YOU RATE AND COMPARE YOUR BANK TO OTHER INSTITUTIONS?

56. HOW HAVE THE NEW OCC REGULATIONS, VOLCKER RULE, DODD FRANK, & BASEL REQUIREMENT IMPACT YOUR BANK?

57. CAN YOU EXPLAIN TO ME HOW YOUR FINCEN REPORTING WORKS?

58. WHAT TYPE OF ACCOUNT ARE THESE FUNDS GOING INTO AND I DO NOT WANT TO CO-MINGLE DIFFERENT CURRENCIES AND WOULD LIKE SEPARATE ACCOUNTS FOR EACH CURRENCY?

59. WHAT IS THE DIFFERENCE IN A CURRENCY EXCHANGE AND A CURRENCY INVESTMENT WITH YOUR BANK?

60. WHAT OTHER OPTIONS ARE AVAILABLE IF I DECIDE TO EXCHANGE MORE CURRENCY AND IS MY EXCHANGE RATE NEGOTIABLE

61. PLEASE SHOW ME THE RATES CURRENTLY ON YOUR BANK SCREEN BEFORE I EXCHANGE.......

COMMENTS:

1. PLEASE FLAG THIS ACCOUNT FOR IT TO NOT BE IN TEST & PRODUCTION.

2. WITH MY BROKERAGE ACCOUNT  I NEED TO BE SURE ALL TRADES MUST BE AUTHORIZED BY ME. (OPTION)

Originally  Posted by EXOGEN

"Your Money & Your Affairs Post-RV"

"Your Money & Your Affairs Post-RV"

From Recaps Archives

By  FXStrategist at WSOMN

As a former financial planner and market strategist (equities, derivatives, FX, risk management), I would like to share my current thinking concerning managing one's money and affairs post RV.

THESE ARE ONLY MY OPINIONS and contemporary CONCLUSIONS! I am not a licensed investment adviser and I am an amateur student of NESARA and its consequences.

This is not professional advice but rather my conclusions and thoughts developed over months of research, strategizing and thinking with my small group, and planning and consulting with existing banking and investment contacts. Please take this all as one person's posture as of this moment in time. I hope it helps in even a small way.

 ...

WHITE GLOVE TREATMENT:

Bank wealth managers will not only advise you but implement virtually everything you will need. That includes security (personal, home, digital) and virtually anything you need. White glove.

CHANGING INVESTMENT ENVIRONMENT:

We won’t know until we see the timing of NESARA about taxes or investments. Were NESARA to be implemented any time soon after we exchange, it will change the landscape dramatically rendering many recommendations emanating from THIS reality either inappropriate or riskier than before. I will avoid the securities markets, including overnight short-term instruments in the days after exchanging and annuities (covered in another point below).

NESARA = NEW RULES:

NESARA and the new technologies (energy, health) will change corporate structures dramatically. Entire industries may become obsolete with the sudden and welcome emergence of new health and free energy technologies. The new paradigm masters will not let you lose whatever you currently have invested in those markets, but don’t rush into them post RV. Wait and see. You’ll have time to observe and gauge.

TAX AND LEGAL:

Tax and legal advice may also change dramatically with NESARA. Professionals will have to receive all new training and education. I look for flexible minds who can grasp the new paradigm and learn the new rules quickly. The bank will have people on hand for you until you find someone you like.

FAMILY OFFICES:

Do ask about family offices. There are individual and multi-family offices. You can join existing family offices or form your own. Your wealth manager will know about these. There are minimums ($25-$50 million?), so check it out with your own Wealth Managers. No need to learn all about them now before the RV. So don’t think you have to educate yourselves right this minute

PRIVATE BANKS:

Look into private banks. They are already predisposed to handling the UHNW (Ultra High Net Worth) individual and have dealt with most of your impending needs and questions multiple times. They hold your hands and spoon feed you. You have no idea how beautifully you will be cared for.

GOLD:

If you consider gold and silver, get the advice of an expert. I have already received an investment recommendation from such a resource that is also knowledgeable about NESARA. Their recommendations are specific and market savvy and even counter-intuitive. Inform yourselves. 

ANNUITIES:

Possibly no longer the panacea they've once been. They have been recommended as safe insurance products here and elsewhere by non-investment professionals; but the insurance companies can afford those handsome tax-deferred returns how?

By investing your money in the securities markets while counting on insurance contract premiums as backup. They used to be considered very safe tax-deferred investments that never defaulted. Will they still be? Will insurance companies’ premiums and the underlying markets continue to exist the way they do now? I do not know, but I will not consider these vehicles.

BANK RETURNS:

You won’t really need annuities anyway. Banks will be offering you +/- 10% for time deposits (ask for more that you are offered — the banks will receive 20-30 times the dollars they "give you" for your exchange when they turn around and sell your currency back, so they’ve got plenty of headroom). And if NESARA passes (maybe weeks after our RV?), taxes will be moot so tax-deferred income (usually lower) will no longer be a goal.

EXCHANGE EVENT TAXES:

Keep tax money on hand (how hard will that be?) until we know for sure the tax treatment of our exchange. NESARA will obviate today’s high capital gains or investment income rates. But there could be a special tax — who knows? Be conservative until you know.

SAFE "NEW" BANKS:

The new banks will not be run the same way as the existing banks. Overnight, the evil stepmothers go away and will be replaced by fairy godmothers. They will be new-fashioned, legal depository institutions, and loans and other activities will not entail risky, usurious, or profit-driven behaviors.

Interest is illegal (now) and will go away (NESARA). The banks will make plenty of money in this exchange and will be financially robust and designed to serve us. Who knows what they’ll actually look like? It will not be the way they look now.

THE "RIGHT" RATE FOR YOU:

Regarding Josef’s wise counsel about how much to negotiate for in terms of available rates, here are my thoughts. Most of us bought amounts of currency that we could afford and which would give us returns we felt fit our personal profiles, goals, and life situations.

That changed over the past few months as rates of exchange have skyrocketed as much as ten times (or more) our original expectations. Some have continued to purchase highly leveraged currencies that have also exploded in terms of exchange rates.

A millionaire has become a ten-millionaire; a ten-millionaire has become a hundred-millionaire, &c. This does change your profile in the post-RV world.

How do you even give that kind of money away to the people and projects you know about? What if you’re not well-connected in the investment world? What if you don’t know how to manage projects on your own to ensure success and to make sure your desired outcomes are indeed taking place?

VISION GIVING:

As I posed this entire discussion via Josef (from a WingIt call) to my small group, I saw a “Housing First” video that freed up my own thinking. Big real estate projects like housing or new institutions — to help the homeless, the disenfranchised, the mentally ill, the co-morbidly ill (physical & medical), people with substance problems, single parents, poor children, people in crisis — need big funding.

 The world is in need of huge infrastructure improvements and healing from pollution and earthly degradation. Projects such as these may seem beyond you to design, fund, and run. No need. You will be able to find and fund these projects via the family office system and new communities of project-sharing.

Other people can put together and run new projects that don’t even exist now, including your own pet ideas; and through your OWN NEW NETWORK of professional advisors, you can tag along.

Projects being proposed and funded at Landa China and Zap can give you a taste of what needs to be done in the world. You will not have to wake up at night and worry about how to distribute your funds. Projects will come to you. You will have the joy of directing your funds to projects you care about in your hearts without tossing and turning and going it alone at the drawing board.

INITIAL ACTIONS:

Whatever you worry or think about in this sunset of the old paradigm may not even exist in the new paradigm, so don't go nuts trying to figure it all out now.

Make your exchanges, receive good guidance concerning the construction of your account arrays at the bank, ask about family offices and professional (tax and legal) counsellors (flexible thinkers), park your money (probably just in the “new” bank for the immediate future), and give yourselves time for things to unfold.

The interest you’ll be earning immediately will pay for your wants, needs, and desires. Satisfy them first, and then help others. We are meant to be fulfilled.

FULFILLMENT FIRST:

Like the oxygen mask in the plane, put yours on first and then attend to your "children." Our fulfillment is a prerequisite to being in the very best energy to best relieve and fulfill others — and the world.

Learn how to give and how not to give (see Oprah and Elizabeth Gilbert, and consult your team). Giving large amounts of money outright to people can have unintended negative ripple effects.

Pay their bills, give them “gift amounts” ($14,000 per gift tax free to you and them, at least for now) that will make sense to them, and buy yourself some time to set up trusts, arrange for anonymity, get your own security in place, and learn how to help in appropriate and constructive ways.

No need to figure it out now. “Your people” will help and guide you, as will our ongoing community of sharing and comparing notes!

THERE ARE NO MISTAKES:

What will happen is what is intended to happen FOR you. Quell your fear and trepidation. Embrace and enjoy the ride. You’ll be helped all along the way. You simply haven't had these privileges extended to you before so, again, you have no idea how beautifully you will be taken care of.

RELAX!

You’re prepared. You’re ready. You’ve done it. The relief you feel may wipe you out. Get used to your new status, take a vacation, buy your new home and car, take care of your health and that of others, address emergencies, and enjoy!

Once you’re in the new realm of wealth and communing with other similarly blessed people, you will adjust to your new mindset along with the beautiful intentions you each have to help the world. We will be here for one another.

Go get ‘em! I say take as much money as you can. Let your professionals smooth the way and do the work. You’re “Executive Producers,” providing the funding for the projects that others will propose, shape, and run.

There is nothing to fear, and there is no way to lose.

And, of course, if this all makes your heart palpitate and you are feeling the lower market rates are more your size, by all means, trust your inner guidance, your “withinity.” Your “withinity” — your higher self, your divine guidance, your God — is your true and constant partner and ultimate arbiter of all decisions.

Go into your heart. Be still and know you are God.Blessings to all of you, and gratitude for your intel, encouragements, and camaraderie!

Blessings to all of you, and gratitude for your intel, encouragements, and camaraderie!

Questions You May Want to Ask at your Exchange Appointment

From Recaps Archives

Take what you like and leave the rest:  

REVISED AND UPDATED LIST OF (61) QUESTIONS YOU MAY WANT TO ASK AT YOUR BANK APPOINTMENT

THE QUESTIONS:

1. WHAT TYPE OF BANK ACCOUNTS DO YOU HAVE AVAILABLE?

2. WHAT IS THE FDIC COVERAGE ON THIS ACCOUNT?

3. CAN YOU EXPLAIN TO ME HOW THE FOLLOWING BANK ACCOUNTS OPERATE?

A. NON INTEREST BEARING ACCOUNTS

B. MULTI CURRENCY ACCOUNTS

C. MULTIPLE CURRENCY ACCOUNTS

D.  (THE DIFFERENT TYPES AVAILABLE)

E. INTEREST BEARING ACCOUNTS

4. WHAT AMOUNT AM I REQUIRED TO LEAVE IN EACH ACCOUNT?

5. WHAT OTHER PRODUCTS AND SERVICES WILL BE PROVIDED TO ME TODAY WITH THESE ACCOUNTS?

6. WHAT ARE THE FEES ASSOCIATED WITH THESE BANK ACCOUNTS?

7. DOES YOUR BANK HAVE A WEALTH & TRUST DIVISION SEPARATE FROM THE RETAIL SIDE OF THE BANK?

8. I NEED SOME CERTIFIED CHECKS MADE PAYABLE TO (abcd) CAN YOU ASSIST ME?

9. HOW MUCH CASH CAN I TAKE WITH ME WHEN THIS APPOINTMENT IS COMPLETED?

NOTE: LIMITED CASH AND A CERTIFIED CHECK IS WHAT WE RECOMMEND

10. IF I COME BACK TO EXCHANGE MORE WILL I HAVE THIS SAME RATE?

11. WHAT PRODUCTS & SERVICES WILL THE WEALTH MANAGEMENT TEAM PROVIDE?

12. EXPLAIN TO ME HOW THE SWEEP PROCESS WILL WORK?

13. WHAT ARE THE ADVANTAGES & DISADVANTAGES OF THESE ACCOUNTS?

14. WILL LOANS  AND  LINES OF CREDIT  BE PROVIDED?

15. IS THIS ACCOUNT ACTIVE TO RECEIVE BANK WIRES NOW? (EXPLAIN THE PROCESS)

16. WHAT PRODUCTS & SERVICES WILL COME WITH THE WEALTH MANAGEMENT TEAM?

17. PLEASE GO OVER ALL OF THE DOCUMENTS WITH ME I WILL BE SIGNING?

18. TELL ME A LITTLE BIT ABOUT THE HISTORY OF THIS BANK?

19. HOW ARE MY DEPOSITS PROTECTED AGAINST BANK COLLAPSE, GOVERNMENT THEFT, AND BANK THEFT?

20. WHAT KIND OF INTEREST RATES WILL I BE LOOKING AT?

21. WHAT TYPE OF CREDIT CARDS AND DEBIT CARDS DO I QUALIFY FOR NOW?

22. WHAT ARE MY CHECKING & SAVINGS ACCOUNT OPTIONS?

23. IF I HAVE QUESTIONS TOMORROW WHO DO I  NEED TO CONTACT?

23. DO YOU HAVE A BUSINESS CARD?

24. IS THIS CURRENCY EXCHANGE TAXABLE AND WHAT IS THE RATE OF THE TAX?

25. WILL THIS TRANSACTION BE REPORTED TO FINCEN?

26. TELL ME ABOUT YOUR ONLINE BANKING (NOTE: WE DO NOT ADVISE ONLINE BANKING)

27. WHAT IS THE COST TO EXECUTE TRADES, , BONDS, ETC?

28. WHAT TYPE OF ADDITIONAL INSURANCE CAN I PLACE ON MY MONEY VIA PRIVATE

BANKING & WEALTH MANAGEMENT

29. IS THERE AN EXCHANGE WINDOW IF I HAVE MORE CURRENCY TO EXCHANGE?

30. IS MY MONEY PROTECTED AGAINST DEVALUATION OF THE USD?

31. TELL ME ABOUT YOUR BANK PERKS?

32. ARE THERE ANY STIPULATIONS WITH THE CONTRACT RATE? (IF AVAILABLE)

33. WHAT ARE THE STIPULATIONS WITH THE STREET RATE?

34. WHAT ARE THE KEY POINTS OF THE NDA (IF APPLICABLE)

35. CAN I CONTACT MY ATTORNEY BEFORE I SIGN THESE DOCUMENTS?

36. IF I DO NOT TAKE THIS APPOINTMENT WILL MY RATE CHANGE?

37. WHAT ARE THE STIPULATIONS WITH THE MARKET RATE?

38. CAN YOU SHOW ME THE RATES ON THE SCREEN PLEASE?

39. CAN I HAVE A COPY OF THE DOCUMENTS FOR MY LEGAL TEAM

TO REVIEW?

40. WILL THE RATE DROP IF I COME BACK TO EXCHANGE MORE CURRENCY?

41. IF I HAVE MORE CURRENCY CAN I COME BACK AND EXCHANGE AT SAME RATE?

42. IF I HAVE MORE CURRENCY ARE THERE DIFFERENT RATE TIERS?

43. ARE THERE ANY TIME LIMITS ON RATES OF EXCHANGE?

44. CAN YOU EXCHANGE INTO LOWER DENOMINATIONS?

45. IS THERE AN EXPIRATION ON THE LARGE NOTES?

46. IS THERE A CAP ON THE AMOUNT I CAN EXCHANGE WITH YOUR BANK?

47. CAN YOUR BANK ASSIST ME WITH RESERVES/LAYAWAYS AND HOW
DOES THAT PROCESS WORK?

48. CAN I EXCHANGE WITH MY LLC, IBC OR TRUST?

49. AM I EXCHANGING INTO NEW TREASURY NOTES?

50. IF I USE AN MCA ACCOUNT WILL MY CURRENCY STAY IN THE CURRENCY OR CONVERT TO USD.

51. WHAT IS THE INSURANCE COVERAGE ON MY DEPOSITS?

52. AM I EXCHANGING INTO FEDERAL RESERVE NOTES OR TREASURY NOTES?

53. CAN YOU EXPLAIN YOUR BANKS BASEL STATUS & HOW DID YOUR BANK RATE IN BANK STRESS TESTS?

54. HOW MUCH DOES YOUR BANK HAVE IN DERIVATIVES?

55. HOW WOULD YOU RATE AND COMPARE YOUR BANK TO OTHER INSTITUTIONS?

56. HOW HAVE THE NEW OCC REGULATIONS, VOLCKER RULE, DODD FRANK, & BASEL REQUIREMENT IMPACT YOUR BANK?

57. CAN YOU EXPLAIN TO ME HOW YOUR FINCEN REPORTING WORKS?

58. WHAT TYPE OF ACCOUNT ARE THESE FUNDS GOING INTO AND I DO NOT WANT TO CO-MINGLE DIFFERENT CURRENCIES AND WOULD LIKE SEPARATE ACCOUNTS FOR EACH CURRENCY?

59. WHAT IS THE DIFFERENCE IN A CURRENCY EXCHANGE AND A CURRENCY INVESTMENT WITH YOUR BANK?

60. WHAT OTHER OPTIONS ARE AVAILABLE IF I DECIDE TO EXCHANGE MORE CURRENCY AND IS MY EXCHANGE RATE NEGOTIABLE

61. PLEASE SHOW ME THE RATES CURRENTLY ON YOUR BANK SCREEN BEFORE I EXCHANGE.......

COMMENTS:

1. PLEASE FLAG THIS ACCOUNT FOR IT TO NOT BE IN TEST & PRODUCTION.

2. WITH MY BROKERAGE ACCOUNT  I NEED TO BE SURE ALL TRADES MUST BE AUTHORIZED BY ME. (OPTION)

Originally  Posted by EXOGEN

The Seven Step Plan for Sudden Wealth

From Recaps Archives- Reposted for our newest members

THE SEVEN STEP PLAN for SUDDEN WEALTH !

Wealth consultant xxxxxxx helps people develop skills to manage life and money when they receive overnight wealth. She has developed seven steps to handling financial windfall after years of working with individuals, families, trusts and foundations.

(1) Realize that you alone are responsible for these funds and your financial well being. Stay involved, read, and learn about financial matters.

(2) Step back take time to emotionally adjust and understand your new situation.

(3) Choose your path. What do you want for your life? Who do you want to be?

(4) Figure out your financial position. How much do you have? What are your current living expenses and what is your income? Is it enough to live on and do what you want to do, as identified in #3?
....

​(5) Slowly and thoughtfully assemble your team of advisors and gatekeepers.

Estate lawyer
Investment Manager
CPA
Wealth Consultant

(6) Create a Financial Plan with your team.

(7) Implement your plan.

Owning Responsibility

Resist the temptation to abdicate control or responsibility for your new found windfall. While it may seem easier at first to hand the funds over to someone or a group and say, “you take care of it”, in the long run, staying involved with your financial health is of paramount importance. Embrace this as an opportunity to learn in a new area.

Seek the advice of others with credentials and expertise, but stay in the decision making process. Use your common sense. Over time, you will be able sort out those you can trust and those whose advice is sound. Seek out and listen to the team you ultimately choose, but stay in the driver’s seat.

Money is like electricity; it can be a powerful source for good or for destruction. Exercise your good judgment. You can handle this if you take care and watch out for certain pitfalls.

Step Back

We recommend that our clients and friends do nothing for three to six months with their funds except put them in an interest bearing highly liquid vehicle. People who have earned money slowly over time have the time to adjust to their changing financial position. Give yourself the same privilege.

Windfall wealth comes with strong emotions. Sometimes we feel guilty, or have mixed feelings about the source of the windfall. Sometimes we have to face our own stereotypes and prejudices about people who have money, now that we do. Emotions and decisions about money are a lethal combination. Chill a little. Give yourself time for your emotions to adjust to your new situation.

Choose your Path

A good use of your “chill time” is to consider what is important in your life. Who do you want to be? How would you like to impact your world? Have you always wanted to quit working or does your work provide a meaningful sense of purpose and social resource for you? Have you wanted more time to serve a cause, help your children with college or return to school yourself?

Now is the time to envision the place you would like to serve in your life. These values should guide your plans for your windfall.

Take Stock of your True Financial Position

The “chill time” is also an excellent time to write out and assess your current financial condition.

List your assets: the amount in your bank accounts, brokerage account, IRA or other retirement accounts, and any real estate you may own.

Make a list of your debts, including credit card, student loan, and mortgage debts.

Go through your checkbook and credit card statement to list exactly how much you are spending, by category, if possible, to sustain your current lifestyle.

List your income, netting out social security, taxes, Medicare expenses, and contributions to retirement vehicles.

Most people find this to be an enlightening exercise and can help them set some immediate priorities. It often provides the reality check needed when facing a large sum of money.

Advisers and Gatekeepers

Assembling a team of advisers is particularly important as these will be the people who guide you through the management of your wealth. You can begin asking the wealthy people you know—your boss, the owner of your company, someone you may know through your place of worship, etc.—about advisers who they work with and trust.

​Most wealthy people hire advisers such as estate attorneys, wealth consultants, and investment or portfolio managers. Get a number of recommendations. Interview these people. Take your time to find people who both have a good professional reputation and who share your values and who you click with.

An investment manager will handle the investing of your assets for the long term to meet your objectives, whether they are for long term growth or income. The investment manager will be familiar with all asset classes, their risk/reward tradeoffs, and understand how they work together in your overall portfolio.

The portfolio manager should be able to explain this to you as he recommends the purchase of stocks, bonds, or other investment vehicles.

An estate planner or wealth consultant should guide you through the planning process to reflect your values and goals, help you ascertain them, recommend an overall plan, budget, will plan, and show you about vehicles like the various kinds of trusts, charitable vehicles, and insurance vehicles that would help you reach your goals with tax efficiency.

The wealth consultant should also be able to advise you on the various ways your assets can be protected from lawsuit, divorce, and other life challenges.

An estate attorney should review your plan and draw up the legal documents.

Your CPA can prepare the needed tax returns and forms to comply with federal and state regulations.

All professionals should coordinate with one another. The wealth consultant can orchestrate the coordination, but always keep you in the decision-making position.

Advisers can also serve as gatekeepers for your assets. Trusts can be set up that restrict the use of funds. Also, they can play the role of “bad guy” in declining requests for loans, hand-outs or funding “investment opportunities” that you do not really want or in which you cannot really afford to get involved.

In this capacity, they provide an excellent solution to a very common problem that most people with funds have: the urgent solicitations of family, friends, or charities who would like you to fund their pet projects.

An adviser can help you sort through the requests and speak on your behalf, if that would make you more comfortable. They may be able to steer you away from making some decisions that are purely emotional and might redound to your long term detriment.

Selecting your team with care requires time, referrals, patience, good questions, and good intuition.

The Plan

Your team will be able to run scenarios to let you know how long your funds will last at various spending rates, so you can prioritize your goals. They can project the funds you need to set aside for retirement, college, or other goals. They will make suggestions on how to best structure your funds to achieve your goals and protect your assets.

This is a good time to set a budget for charitable giving—both for organizations and for family and friends. This kind of plan will help you address solicitations.
Your investment plan will include how much income you need, how much risk you are willing to take for the return you need, and asset classes with which you are comfortable. A large investment plan can often take a year to implement, so you do not need to invest in everything at once.

Implementation

When you are comfortable with your plan and understand it and the trade-offs involved, it is time to implement it. Your advisers should guide you through this process.

​Problems

Now, let’s turn to some of the most common problems that accompany windfall wealth. On our radio show, Cynthia Kostas shared several stories of lottery winners who won millions and ended up on welfare within 10 years.

In her own practice she has observed five major causes of severe and unanticipated loss, which we detail below. One of the overarching vulnerabilities of people who come into money is that they often feel isolated.

They cannot easily share the challenges they face with their friends because their friends cannot really relate, often responding, “Yeah, I wish I had your problems”.

Feelings of isolation often push people to make decisions based on winning friends or approval or proving that they are still nice guys, though wealthy. Here again is where an objective and good adviser can help you sort out the reasons behind your decisions and gently remind you of the objectives, values and priorities you originally set out.

Pitfall #1: Overspending

Everyone has pent-up demand—a wish list—of what they would like to buy if they could afford it. Now is the time to enjoy a luxury that you have been thinking about, like a European vacation, new car, or swimming pool. Such dream items should definitely be included in your initial plan, or budget.

A problem occurs when people think that they are rich and therefore should live out their vision of how a rich person lives. The problem is that this vision is usually an illusion based on Hollywood.

Books like “The Millionaire Next Door” reveal that truly wealthy people live well beneath their means, investing for their future rather than living flamboyantly. Discern between needs and wants.

It is easy to get caught up in our consumer society that tells us things and experiences equate to happiness. In fact, spending is an addiction in our society of plenty. And, like any addiction you need more and more to get less and less satisfaction. This is a common trap into which many folks fall. Some solutions include:

• Consider what brings you satisfaction and what really brings joy into your life. Make a list. Most of the items cannot be bought. Revisit this list when considering your wish lists.

• Remind yourself that there will always be those who spend more than you and those who spend less than you. Living your priorities, not someone else’s is living with integrity.

• Remember God. Appeal to your higher being as you understand him, to guide your values and help you adjust with honor and integrity.

• Stay emotionally independent. Read and engage in activities that nourish and strengthen you. Nourish or engage your spirit. That is where happiness lies.

• Here again, it is your plan and your advisers that can keep you on track. Having taken stock of what you have and what you want to spend it on and how long it will last at different levels of spending provides the reality check that can help you avoid this pitfall.

Pitfall #2: Bad Investment Decisions

Bad investment decisions have been the ruin of many wealth windfalls. People like to talk about their investments and they mostly talk about the good ones. So when talking to successful people, one gets the idea that they are all great investors and it is easy.

Warren Buffet is one of the few investors willing to talk about failures he has experienced because he is confident and wants to learn from them. That is what makes him a good investor.

Most businessmen and successful investors draw on the wealth of 20-30 years of mistakes from which they have learned to get where they are today. Always remember you could be wrong and find investment counselors to back up your position.

Now that you are suddenly wealthy is not the time to start an investment learning curve. Find good people as advisers and invest conservatively.

Pitfall #3: Solicitations from Friends and Relatives

Many times family members will come to you with what they consider to be great business ideas that they have been wanting to try or with legitimate medical needs or financial difficulties such as debt that can be solved with a loan from you. This is a heart-wrenching dilemma because they touch us on a very emotional level.

We suggest that you carefully examine the need that is being presented to you.

Choose which people you consider to be in your innermost circle. Budget some percentage of your windfall to help such cases and stick to the budget so that your own goals do not get subverted by the troubles of loved ones. Family issues are complicated and multi-layered. Consider the following:

• Set aside the dollar amount or percentage of your windfall that you are willing to spend on family members in true need. Stay disciplined to this figure.

• If possible, do not share the news of your windfall with others.

• Do not get caught in the trap of trying to make all things equal. You cannot equalize financial aid to family members any more that you can equalize love.

• Differentiate another’s wants from needs from emergencies. If a relative or friend has an ongoing problem making ends meet, paying a bill will not help them in the long run. They need to make lifestyle adjustments to match their income. This is different from a sudden accident that leads to sudden unemployment.

• Make clear the limits of your help from the beginning.

• Help relatives find other solutions to their dilemmas in addition to or instead of money. What other sources of help are available for their situation? Can you help them budget or find social services?

• Draw a tight circle around your definition of friends that you would include with family members as being worthy of your financial assistance.

• Remember that getting someone in further debt (to you) often is not doing them any favors. A one-time infusion of money often does not provide the solution, but is only a band aid. When the money cannot be paid, or is not paid, relationships are strained, often irreparably.

• Evaluate any business that you are asked to invest in as you would any other investment. One out of every three start up businesses fails within three years. Seek evaluation of the business plan (be sure there is one!) from a professional.

• Others may not wish to borrow money, but to control your windfall by controlling access to you from friends and advisers. Sometimes they may wish to create a feeling that you are dependent on them. Or, they may want to gain social status through association with you. (“He or she will listen only to me.”)

Beware of anyone who tries to convince you that everyone else who might advise you is an imbecile or a cheat and that they are the only ones that you can trust.

• Of course we all want to help our loved ones when they are in need. All people have emergencies throughout the course of their lives. Being aware of the pitfalls can keep your good intentions from going sour

Pitfall #4: Solicitations from Charities

You will become a target for charitable appeals from organizations that are very professional in their approach. Often, development professionals will build friendships with you with this goal in mind.

You will find these friendships flattering and appealing, so your emotions will be involved, and your attachment to attention will influence you. Of course there will be causes about which you feel passionate. Many of these causes are worthy of your support. Consider the following:

• Prioritize which causes are most important to you. Who will you support this year and next year?

• Determine what dollar amount or what percentage of your income or wealth you are able to give away and still remain a responsible steward to yourself and your family.

• Set criteria for a charitable organization to merit your money. What percentage of their budget goes to the actual cause and what goes to administrative and solicitation costs? Will they work with you on a particular cause you are passionate about, like research for a particular cause, or a building for a particular purpose? Will they remain accountable to you, the donor, for the use of your money? Are they stable? Do they have a long-standing record of keeping their word on the use of donor’s money?

• Stay disciplined to this predetermined plan and criteria.

• Learn to say no. Use the phrase, “this does not fit into my charitable giving plan at this time.”

Pitfall #5: Bad Habits

The other day on the MaxOut Savings Show, wealth consultant Cynthia Kostas shared many stories of lottery winners losing their windfall to gambling habits and drug and alcohol use.

Part of the emotional fallout of windfall wealth is that it brings up issues that are painful for us. People anesthetize their discomfort with drugs or the adrenaline rush of gambling or other habits. This happens so often that it bears mentioning in this column.

Being aware is part of the battle. Seek counseling or other means to support you through the tough issues that sudden wealth often makes you face.

For many people, a financial windfall has been more of a curse than a blessing.

Taking care, thinking through your own motivations and those of others, and seeking professional and experienced guides can help you navigate a shift in financial circumstances to enhance your life.
 
(Dinar Recaps Note: This post is for informational purposes only.  It is not legal, tax or investment advice.  Dinar Recaps advises that everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.)

Are You Living Beyond Your Means?

Are You Living Beyond Your Means? The Warning Signs to Watch For
Post From Invested Wallet

Posted in Dinar Recaps Archives on 7/9/2019

In our consumer and debt-heavy society, living beyond your means is all-too-common. And unfortunately for us, it can put us in tricky financial situations.

Considering how easy it is to impulse buy online and use credit cards we end up spending more than we make.

This process has become so normalized, that we overlook the financial dangers and live a lifestyle that can be too expensive for our own good.

While it may seem okay because so many are living beyond their means, it shouldn’t mean you need to endanger your own financial well-being.

Below are a few warning signs you should watch to ensure you are not living beyond your means.

You Notice You are Living Paycheck to Paycheck

78% of full-time workers said they live paycheck to paycheck (CNBC)

Now, this might not signal right away that you are living beyond your means. You might be underpaid, living in an expensive area, or have some other financial circumstances putting you in this situation.

However, a lot of times you may be upgrading your lifestyle or just overspending that causes you to barely squeak by every pay period.

Take a step back, look at your paycheck and see where your money is going every week. You may discover that there are some cutbacks you can do to help you get out of the paycheck to paycheck slump.

I’ve been there before and it’s not fun. Even though I was only making $36,000/year at the time, had I not been overspending on my lifestyle that situation would have been different.

You Have Little Saved or No Emergency Fund

One thing I roll my eyes to in most personal finance articles is when they talk about having an emergency fund. We all should know it’s important to have one and we all do typically want to save money.

To continue reading, please go to the original article at

https://investedwallet.com/living-beyond-your-means/

The Velocity of Money by Virginia Gentleman

From Recaps Archives:  Re-posted for our newest members!!!

From Virginia Gentleman   VELOCITY OF MONEY

I know I don't have to state the obvious...GO HAVE FUN WITH SOME OF YOUR NEW FOUND WEALTH. However, I would like to pass on some words of wisdom.

As we get ready to punch it in, please remember to act like you've been in the End Zone before. Take a deep breath and exhale slowly as you collect yourself with the full intentions of acting with class and integrity.

Respectful treatment of others will be an inherent responsibility of your new status, as well as respectful treatment of your money and assets. You owe this to yourself, your family, your neighbors, and your heirs.

Don't hoard it, and on the other hand, don't waste it or give it all away. Save, invest, and spend wisely.

One of the single best things you can do with a small portion, and in effect a very small portion, is to be more generous over at least the next 18-24 months (or the longer) spending your money locally. What do I mean? The answer is the ‘VELOCITY OF MONEY’.
 
The Velocity of Money is a fairly simple financial concept where a ‘community’ can be positively impacted by the way a group of individuals increase the spending of their money in their economy, and in turn, the ripple effect of that spending as it accelerates throughout that same economy.

It can be local, regional, national, and even global. Velocity of money is most effective in a smaller market with the smaller more predictive population of a local economy, and it isn’t just effective, it is fun for the people spending their increased earnings, or in this case, significant returns on an investment. Yep, that is you!
 
Anyone who has ever lived in a small town or Suburban area where a new large company has come in and opened a large facility and hired a large amount of employees has witnessed this phenomenon.

Money gets pumped in and spending from increased disposable income begins to spread out through the entire community finding its way into the wallets of all the inhabitants.

The goal is to spend your money at local establishments on services, appliances, home improvements, food, entertainment, and such.

More precisely on things like tipping an extra 5-15 percent, using a valet to park at the local steakhouse (tipping extra), go hear a local band (put money in the tip jar), buy cheese or pork or beef at a farmers market instead of 2 month old shrink wrapped processed cheese from a Big Box store or grocer, get an extra manicure or haircut (tipping extra!), get your car repaired at the mechanic down that side road instead of Walmart or the Dealer.

Buy those nicer hiking boots ‘Made In America’, get your computer cleaned up by that geek in the shop she set up in the old 7-11 building, buy your lumber from the local milled lumber supplier not the National Chain hardware store, deal with a local community bank or credit union with a substantial portion of your money… you get it now right.

Think about it. You may be spending either the same amount or perhaps an extra 10-20%, and you’re getting the same things… OFTEN WITH THE BONUS OF MUCH HIGHER QUALITY PRODUCTS WHILE GETTING TO KNOW YOUR NEIGHBORS ON MAIN STREET!!!
 
I personally look forward to trying some of the world’s best Craft Breweries in Richmond (tipping generously) and touring some of Virginia’s wineries (tipping generously)… jealous of you Kentucky folks that can tour the best ‘Bourbon’ distilleries on the planet, or you ‘Whiskey’ lovers in Tennessee just outside of Fayetteville down the Admiral Frank B Kelso highway or those in Nashville who can wander in a restaurant and catch a ‘local’ band like Kenny Chesney, lol. Believe it!
 
By doing this the dominoes of positive change begin to fall within your local community. The ripple effect is that the waiters, mechanics, manicurists, hairstylists, valet, carpenter, plumber, artisan cheesemaker, farmer, and others in your community begin to make more money.

And what do they do? They go out and spend more, tip more, consume more. Your local tax authority makes more sales tax revenue and spends it on improvements.

I’m in America, but the Velocity of Money is true in Canada, Great Britain, Iraq, Vietnam, or anywhere. And guess what? Since this is fun stuff you’ll be doing while spending your hard earned money, you will also be wearing a BIG smile.

There is nothing more infectious and quick to spread goodwill than passing on your smile accompanied by kind words. So be wise with your prosperity and have some fun …LOCALLY.

Even pay attention to those companies being loyal corporate citizens to us through the new Trump incentives to stay and manufacture here, and be loyal to them.
 
The fruit you bear will fall from your tree and spread its seeds…

Live and grow in the nine fruits of the Spirit and you will sow the nine fruits…

Love, Joy, Peace, Patience, Kindness, Goodness, Gentleness, Faithfulness, and Self-Control.
 
Take care –Virginia Gentleman

5 Lies You’ve Been Told About Generational Wealth

5 Lies You’ve Been Told About Generational Wealth
By Pavithra Mohan

From the Recaps Archives, originally posted on 7/20/2019

From TNT --  Ify: This Article explains why RayRen continues to say NOT to gift large monies but to Educate your children, grandchildren... Article on Generational Wealth:

Here’s what you have wrong about people who inherit money.
5 Lies You’ve Been Told About Generational Wealth

The markers of generational wealth are manifold, from the promise of a good education to the security of homeownership. Wealth begets further wealth, but not always through inheritance of assets.

“Much of the transmission of wealth to the next generation goes through these earlier life processes, such as supporting children’s education, supporting their ability to purchase a home, or to get married,” researcher Fabian Pfeffer wrote in a recent study at the University of Michigan. “All of these—education, homeownership, marriage—in turn help you accumulate wealth.”

But the extent to which family money helps future generations retain and build on their wealth—or acquire financial literacy—is less marked than you might imagine. Here are some of the commonly held misconceptions about the beneficiaries of generational wealth.

1. Their Wealth Lasts Many Generations

We don’t have to look further than one Donald Trump to see how wealth can trickle down and set up future generations for success. But generational wealth is actually harder to maintain than America’s richest families might lead you to believe: About 70% of wealthy families lose their wealth by the second generation, and 90% do by the following generation.

One reason that happens is the next generation may not be equipped to manage the money they inherit. But it’s also that family wealth can be diluted as it is divided amongst children, especially if each has a different stance on how to invest or manage the family finances. (Think of the family jockeying on Succession.)

Some financial experts even recommend that—not unlike businesses—families come up with a “mission statement” to establish financial values and goals, in an effort to preserve wealth across future generations. 

2. Their Parents Talk To Them About Money

You might think parents with money share their financial know-how with their offspring. But that’s not necessarily the case. “Some parents don’t want their kids to feel like they have a huge landing pad or that they may not need to work,” says Emily Green, a financial adviser at Sallie Krawcheck‘s investment platform, Ellevest.

“A lot of times, they don’t talk to them about money at all.” That can mean parents not only don’t disclose how much their kids stand to inherit but also don’t necessarily offer guidance on how they should spend and invest their money.

“I find that a lot of them get to their thirties, forties, maybe even fifties and still don’t really know anything about money,” Green says. Sometimes, even financial advisers make assumptions about people who have money—presuming, for example, that they are well-versed in investing. In truth, the folks who inherit tens of millions of dollars may know less about money, and especially investing, than someone who saved a million dollars.

To continue reading, please go to the original article at

5 lies you’ve been told about generational wealth

"General Questions to Ask Wealth Advisers" from DebTarHeelGirl

Thank You DebTarHeelGirl

From DebTarHeelGirl:

General Questions to Ask Wealth Advisers

Choose the questions that are most relevant for your situation When interviewing a wealth advisor, it is important to ask the right question and know how to interpret the answers.  

Here are select questions to get you started.  In a formal selection process the family should come up with additional relevant questions that will isolate important criteria.

Firm Background and Ownership

1. When was the firm founded?

2. When did the firm begin providing wealth advisory services? What was the impetus behind the creation of the multi-family office business, if applicable?

3. What is the firm's organizational structure? If family-owned, what is the percentage of the family s interest?

4. What is the firm's ownership structure? If family-owned, what is the percentage of the family's interest?

5. Does the firm develop an annual strategic plan? If so, what are primary initiatives for the firm in the next two years?

6. What is the firm's stated mission?

7. Is the firm a Registered Investment Adviser under the 1940 Act of the Securities and Exchange Commission? Please provide a copy of the firm's ADV Parts I & II filed annually with the SEC.

 Services

1. Describe your expertise in each of the following service areas:

   • wealth transfer planning

   •  financial planning

   • foundation and philanthropic planning

   • investment planning

   • investment management

   • performance analysis

   • tax planning and tax compliance

   • bill paying and cashflow management

   • client education process

2. What are your areas of greatest strength when providing wealth advisory services?

3. What new services/service enhancements are you planning to introduce in the next year?

4. What aspects of your business distinguish you from your competition?

5. Do you work with outside investment consultants to enhance your research?

 Client Relationships

1. How many family relationships does your wealth advisory business have? What is the distribution of clients by type (business owners, wealth owners, wealth inheritors, foundation, etc.)?

2. How many new clients have you added/lost in each of the past three years?

3. What percentage of your clients are full-service relationships? What services do you typically provide to the clients that don't use your firm for all services?

4. How do you get new business? Do you have an active new business development effort?

5. What are current assets under management?

6. Please provide a breakdown of:

   • growth in new assets due to new client business over the past three years 

   • growth in assets due to new assets from existing clients

   •  loss of assets due to client attrition in the past three years

7. Provide references from three clients that have worked with your firm for at least three years?

8. What were the reasons why former clients terminated your services in the past three years?

 Employees

1. How many employees do you have in each major department? Provide a breakdown of employees in the following categories:

   • senior relationship managers

   • investment professionals

   • tax and accounting professionals

   • philanthropy specialists

   • information technology professionals

   • marketing professionals

   • operational/back-office personnel

   • administrative staff

2. How is the typical relationship management team structured? And how is technical expertise provided to support the relationship team?

3. How are the relationship managers compensated? If they are paid incentive compensation, what is that based upon? Do they share in firm profits?

4. What is the typical account load for a relationship manager?

5. Please provide the biographies for senior management and key personnel who would service my account.

6. Provide the number of employee hires and terminations/resignations for the past three years.

 Client Servicing and Reporting

1. How do you most frequently communicate with clients?

2. Do you have regularly scheduled client meetings? If so, what is the frequency and who typically represents the firm?

3. How do you interact with the clients' other key advisers?

4. Do you provide electronic versions of client reports? Do clients have on-line access to their reports?

5. What is the website address?

 Client Education and Research

1. What kind of client education do you provide?

2. Do you offer formal seminars or other educational opportunities?

3. Do you publish research or newsletters for your clients benefit? Please include a list of research papers distributed to clients with the date of publication.

 Pricing and Fees

1. Do you have a published fee schedule? If so, please provide. If not, please describe how you determine a fee for a new client.

2. Is there a minimum account size or minimum fee requirement?

3. How does the fee structure differ for different client types?

4. Do you offer any performance-based fees? As an alternative to basis points?

5. Do you accept soft dollars from any product providers?

6. Do you accept fees of any other type of service providers? If so, under what circumstances?

Post RV Tips and Suggestions

Post RV Tips & Suggestions

From OOMF  By Just Da Truth  (From Our Archives)

While there are numerous ways to prepare for the RV I feel this will assist you in preparation for that most awesome day.

When you see RV in big letters on your favorite currency forum, , or when you hear me scream hallelujah from wherever you are in the world…that is when you will know that glorious day has arrived. But will you be ready?

Prepare: I realize many of you have done your research on how to invest, donate, and spend your money (Lord knows we have had plenty of time to do that, LOL) but time should also be allocated to how you are going to receive your investment.

Preparation is not a huge task and I believe it is essential.

Many of us have our dinar stuffed in the sock drawer, safe deposit box at the bank, or maybe even locked in the pages of your Bible but when that day arrives for you to exchange your currency there are a few things you should consider. Here are some simple steps and advice…

Give thanks: First and foremost hit your knees!

Keep Quiet: On the day you discover your investment has RV’d your first reaction is to scream with excitement and to tell the world. Think of your safety and your family’s safety first. Handle your affairs as quiet as possible.

Even though this event trumps all events you could ever post on Facebook and Twitter…it is better not to tell anyone about this particular event.

Identification: If you decide to use a bank or your currency trader at time of exchange both are going to ask for 1 to 3 different forms of identification.

Make sure your id’s are current. You will likely use your driver’s license, passport, credit cards, student ID, work ID, and/or a utility bill.

Banking: If you are dealing with small banks, go straight to the VP or upper management. If your bank has a foreign currency exchange department immediately ask for the VP or President of the department.

With larger national  banks, go to their Private Banking or equivalent division for customers with great wealth. I think you get the point I am trying to make…

If the new exchange rate is considerably higher and you have several dinars to exchange you will be dealing with a high amount of cash in exchange. This step will only move the process along and further protect your asset.

They may have more options when it comes to banking, and have a better grasp of the disclosure and security procedures in the bank.

It would also be beneficial, if you know your banker, to have his/her name and phone number ready in case there is a technical challenge wiring the funds.

If not, have the banks phone number and address readily available…go ahead and log into your contacts in the cell phone.

Also, research your own bank options, banking fees, bank account features, return rates, FDIC insurance, NCUA insurance, etc.

If you are utilizing the services of a currency trader make sure you have all the needed account numbers that the exchange office will require in order to wire funds to your bank of choice. So you will need your bank name, bank account, routing number, and wire transfer numbers. Also add the phone number and address into your cell phone for quick access.

Contingency Plan: Lets say you plan to go to your local bank to cash in your dinar. You find out there is something you are not too familiar with or maybe…they do not offer a currency exchange service.

If they are going to ship your Dinar out-of-state (out of your sight) for 3 or 4 days, the cash in spread is too high, etc etc. What do you do?

Do some calling around before you leave to see what services your institution offers. Ask about the rates and if there will be a delay for the money to be deposited into your account.

Take a preventive measure today by writing down a list of banks near your home, next major city, or an adjacent state that you can contact if a problem with your initial bank arises.

Depositing your Cash: Regardless of the method you use to exchange your dinar into dollars you will likely deposit a large sum of cash into a bank account. If you are in the United States banks are required to report to the IRS any single deposit exceeding $9,999.99. This is to identify potential criminals dealing in fraud, theft, or even terrorism.

Furthermore, funds deposited in the amount of $10,000 or more can be “frozen”by the bank or by the bank on behalf of the IRS if the deposit appears“suspicious”. These frozen funds can by tied up to 10 days or until you can provide valid proof where these funds originated.

There are suggestions on how to avoid your bank account from being frozen but none will guarantee you will not wait to have access to your funds. Banks can hold wired funds, checks and cashier checks until funds are honored by the issuing  institution. Much like a second party check each bank has a “clearing”period based on different transaction types.

Prior to making the deposit (especially if it is a large deposit) talk with the manager and explain the situation as an investment payout. You may need validation of some kind such as a written statement. This may avoid the IRS from being directly involved and shorten the time frame you will have access to your entire deposited funds.

Please discuss this with your banker, attorney, and/or CPA for further clarification and understanding.

“Walking” out with your money: If you were cashing a check for a few thousand dollars it is likely the banker would place your bills in a zipper bag and let you walk out the door.

However, if you ask to walk out with lets say a few hundred thousand dollars be prepared to wait.

Banks refrain from having large bulks of cash on hand for security purposes and most transactions are electronic.

However if you desire to have “cash” be prepared to make a request anywhere from 24 to 72 hours prior to your withdrawal in order for the bank to make arrangements.

Trusts, LLC, and Other Legal Entities: There are many ways to suggest how to set up your financial portfolio. Some have suggested to set up a trust(s), some have suggested establishing a LLC. Some just plan on cashing in as a single person.

However you decide to set up your arrangement make sure all of the legal documents are close by so that you can refer to them, if need be.

If you desire to open a bank account under a Trust, LLC, etc. these documents will be required. See bank accounts above.

Be careful of online offers and Dinar forums offering trust advice or assistance. Do you research…you don’t know who these people are..Don’t send anyone funds prior to a thorough investigation. Call the Better Business Bureau for advice.

Wills: I realize this sounds morbid but it is essential. I hate to say it but here is a scenario…you cash in and deposit $1 million in your bank account. On the way out of the bank you do your best impression of the Snoopy dance.

Not watching where you are going you come face to face with a large RV…not revaluation but a recreational vehicle! Your RV came twice that day…first to make you wealthy and the second time to meet your maker. So what happens to your $1 million?

This is why it is essential to draw up a will. Even a simple notarized will is better than nothing. Easy wills are found at places like Office Depot…some are free online as well.

Tax: The ugliest three letters ever made up. But it is something we all will deal with. Don’t try to avoid it as you will find yourself regretting you ever did. Its better to place a certain percentage aside allocated just for taxes and never touch it!

These percentages have been quoted all across the spectrum but whatever you decide to allocate..remind yourself not to spend it till you decide to send that check to Uncle Sam.

My advice would be to look up the phone numbers of local CPA’s, CPA/Tax Attorney’s and have their numbers available to make appointments with them post RV.

Get their advice and reconcile their thoughts. Once you pick someone you are comfortable with he/she can walk you through the needed forms and steps.

Of course, choosing a CPA or a Tax Attorney is not that simple…so keep your ears open for a well-qualified person to handle your taxes.

I understand some are saying their are methods to avoid paying taxes on currency exchange. Listen! Be Smart! Get the advice of a tax professional and don’t end up owing money or perhaps be under investigation.

Don’t be fooled…the IRS follows every transaction at banks so just be cautious and pay your taxes.

Post RV Investments: The only advice I can give you here is to… get advice.

Seek the services of a financial consultant, go to the library, Google everything that comes to mind. I will admit that just about any financial advisor that exists would likely roll of out of his chair in laughter if he heard about this investment pre-RV but I would also place a handsome bet that he or she would want your business when you are in search of advice post-RV.

Do your due diligence before you spend money. Don’t be afraid to get second opinions and ask around.

This kind of blessing will likely never happen like this again so be wise.

Also..Be wary of fellow dinar investors asking you to partner with them in an investment. Just because they are a fellow investor doesn’t mean they have your best interest at heart. Be Smart!

Donations/Tithe: I think it is imperative we should all give back, pass it forward, and donate. But do your homework and give your money to honest charities. It’s shameful to think that people make up fraudulent organizations and never spend donations instead they line their greedy pockets. Give to organizations that are close to your heart.

Tithe to your church. The tax man is going to take a chunk of your wealth you might as well offset the tax man by giving those funds to something meaningful and worthwhile.

Document Everything; This can’t be emphasized enough. If you are fortunate to gain a large sum of wealth remind yourself to treat your accounts appropriately and be careful not to let others mishandle your money.

You may have more money than you ever had before but that doesn’t mean you will always have it. Keep records, bank statements, receipts, contracts, agreements, etc.

If you hire a financial advisor be actively involved with your account and have understanding of what your advisor is doing with your money. Also, be aware of all of the fees advisors charge for their services.

After all how many times have you heard of celebrities discovering they are broke because they trusted someone else with their money?

Debt: When the RV occurs you will have been blessed with a sudden amount of wealth. No matter how small or large the sum of your return find it in yourself to reduce your personal debt.

Pay off the mortgage, pay off the credit cards, pay off the installment loans, pay off the student loans, pay it all off. Stop being a slave to debt and avoid at all costs reentering into a lifestyle of owing a creditor.

Pay yourself: There is nothing wrong with spending money on yourself. Take a vacation, buy a car, pay off some bills, go to the mall. Withdraw some “fun”money but take the rest and let the interest and dividends accrue.

Remember to buy smart: Many of us have lived modestly most of our lives and with a sudden amount of cash in the bank your buying potential could be endless. But remember to be smart when making purchases.

Sure you can afford a 10,000 sf house but remember the taxes, utilities, and cost to maintain the home. Sure you can afford a Ferrari, Lamborghini, and a Porsche but remember the maintenance cost associated with these high end cars. Enjoy your wealth…learn to keep it.

Loose Lips, Sinks Ships: Its sad but true…the minute you have money in your bank account will be happy. But if friends and family that are non-dinar investors hear of your recent influx of wealth they are going to want a piece of your pie.

I am sure you are going to want to help your friends and family but do it under your own will and not because of their solicitation. Be quiet and serve your fortune to those with gratitude and need.

Safety: Lets just be honest. There are some cruel people in this world and they will do anything they can to harm you or your family in order to obtain a portion of your wealth.

This refers back to being quiet. Fly under the radar. Live as normal as you can. Enjoy your life but be aware of your surroundings and the people you invite into your life.

Enjoy your life: Money does not buy happiness. Some of the richest people in history were the most miserable. Let the happiness in your life result from living your life right, spending your wealth of time with your family, and being debt free.

Now that you are rich avoid falling into the temptation the desire to become wealthier.

Don’t let money be a driving force in your life. It is perfectly fine to invest and protect your wealth just don’t allow it to consume your life.

These are just a few tips and suggestions. This is my soul my opinion and I am not a financial consultant, CPA, lawyer, and in no capacity have the power to give financial or legal advice however I am a concerned investor that wants all of us to be informed.

Taboola ad for the very bottom only

Daz: Sample Exchange Appointment Scriot and Tips

From Recaps Archives

TNT:

DAZ:  EXCHANGE THOUGHTS

THESE ARE BROAD GENERALIZED STATEMENTS OF GUIDANCE TO HELP MANY OF THOSE THAT REALLY HAVE NO PRIOR EXPERIENCE OR CONCEPT OF BUSINESS OR BANKING.

JUST BE NEAT AND LOOK LIKE YOU MEANT TO GET DRESSED TO MEET SOMEONE THAT YOU WANT TO HAVE A KIND AND  FAVORABLE IMPRESSION OF YOU....ITS JUST A FIRST DATE...NOT THE WEDDING..

IM NOT EVEN GOING TO LET THE IDEA OF SOME "QUALIFYING"  CLOUD MY EXPERIENCE OF THIS THING.

THE QUICKEST, EASIEST WAY TO APPEAR OR BE PERCEIVED AS FEARFUL AND LACKING CONFIDENCE IS TO FEEL YOU  ARE BEING JUDGED ON THOSE ATTRIBUTES.

WINNERS DONT DO THAT.

JUST BE A GOOD REPRESENTATION OF YOURSELF...NOT SOMEBODY ELSE...

BE KIND, PUT A SMILE ON THE INSIDE...AND OUTSIDE. BE YOURSELF...BEING FAKE WONT GET YOU PAID ANY QUICKER OR BETTER IMO

REALLY FEEL THE SMILE ON THE INSIDE..VISUALIZE IT..PRACTICE IT NOW...IT REALLY DOES CHANGE THE ENERGY IN A MEETING....YOU'LL BE FINE.

I WOULD NOT VOLUNTEER TOO MANY DETAILS, IDEAS OR CONCEPTS GENERALLY,

ALL GREAT IDEAS ALWAYS FIND OPPOSITION. A NEUTRAL CONFIDENT STANCE MAY BE WISE.

A FRIEND ONCE TOLD ME...."YOU DONT HAVE TO TELL EVERYBODY EVERYTHING YOU KNOW...AND ITS BETTER THAT YOU DONT".

THEY WOULD RATHER HEAR THAT YOU WANT THEM TO TELL "YOU" ABOUT ALL THE PLANS, POSSIBILITIES, STRUCTURES AND OPPORTUNITES THEY MAY PROVIDE. WM'S DONT WANT TO BE TOLD HOW TO DO THIER JOB OR HOW YOU WANT THEM TO DO IT.

ULTIMATELY THEY TRULY JUST WANT YOU TO HAND THEM THE MONEY TO PLUG INTO THEIR EXISTING SYSTEM. ...THATS THE WAY THEY ARE TRAINED AND WHAT THEY ARE GENERALLY USED TO....AND THATS JUST THE REALITY OF THE THING
.
WE WILL BE CALM, CONFIDENT AND SMILING...THEY WILL BE TIRED, DISORIENTED AND ANXIOUS...SURELY WE CAN MEET IN THE MIDDLE SOMEWHERE.
 
MAYBE A SIMPLE BUT SOMEWHAT AMBIGUOUS REPLY UPON THEIR INQUIRY MAY BE BEST...

"I PLAN TO MAKE MY IMMEDIATE FAMILY A LITTLE MORE COMFORTABLE AND THEN I WANT TO LEARN HOW TO PROTECT AND GROW MY MONEY FOR GENERATIONS...AND I NEED SOME HELP WITH THAT."

THAT WILL PUSH ALL THE NECESSARY BUTTONS.

AND REMEMBER....IF YOU DONT UNDERSTAND, ASK, IF YOU DONT GET AN ANSWER YOU CAN UNDERSTAND, ASK SOMEBODY ELSE AND,......IF IT DONT FEEL RIGHT...DONT DO IT

Sample Script: 

HELLO MR. BANKER, I HAVE IRAQ DINAR, VIETNAM DONG AND ZIMBABWE CURRENCY. I WOULD LIKE TO EXCHANGE...CAN WE DISCUSS THE MOST FAVORABLE RATES AND TERMS, BOTH PUBLIC AND PRIVATE, AVAILABLE FOR EACH?

WELL MR BANKER.....I RECEIVED SOME INFORMATION IN THE PAST THAT THERE MAY BE MORE THAN ONE RATE AVAILABLE DEPENDING ON HOW WE EXECUTED THIS EXCHANGE.

 IF THERE ARE OTHER OPTIONS BESIDE AN EXCHANGE AT THE INTERNATIONAL RATE, I WOULD LIKE TO EXPLORE THOSE TERMS AND REQUIREMENTS IF THEY ARE AVAILABLE TO YOU OR ANY AT THIS BANK.

BE RELAXED, CONFIDENT, FRIENDLY AND PURPOSEFUL

EASY, SIMPLE, HONEST, INFORMED AND DIRECT

61 Possible Questions to Ask at Your Exchange Appointment

61 Possible Questions to Ask at Your Exchange Appointment

Posted at Dinar Recaps Archives on 7/7/2019

Note: .These may be a good starting point to take with you when you go to exchange. Not all of these questions may apply to everyone...Just use what you believe fits your own personal circumstances~ Thank You

EXOGEN : WHICH QUESTIONS FROM THIS LIST WILL YOU ASK AT YOUR EXCHANGE APPOINTMENT?

DO YOU KNOW WHAT ANSWERS YOU WANT TO HEAR FROM BANKERS WHEN YOU ASK THEM THESE QUESTIONS AT YOUR EXCHANGE APPOINTMENT?

(DO YOU KNOW THE CORRECT ANSWERS TO THESE QUESTIONS ONCE YOU ASK THEM TO THE BANKER?

IS THIS PART OF YOUR PLAN AND STRATEGY?

Questions:

1. WHAT TYPE OF BANK ACCOUNTS DO YOU HAVE AVAILABLE?

2. WHAT IS THE FDIC COVERAGE ON THIS ACCOUNT?

3. CAN YOU EXPLAIN TO ME HOW THE FOLLOWING BANK ACCOUNTS OPERATE?

A. NON INTEREST BEARING ACCOUNTS

B. MULTI CURRENCY ACCOUNTS

C. MULTIPLE CURRENCY ACCOUNTS

D. (THE DIFFERENT TYPES AVAILABLE)

E. INTEREST BEARING ACCOUNTS

4. WHAT AMOUNT AM I REQUIRED TO LEAVE IN EACH ACCOUNT?

5. WHAT OTHER PRODUCTS AND SERVICES WILL BE PROVIDED TO ME TODAY WITH THESE ACCOUNTS?

6. WHAT ARE THE FEES ASSOCIATED WITH THESE BANK ACCOUNTS?

7. DOES YOUR BANK HAVE A WEALTH & TRUST DIVISION SEPARATE FROM THE RETAIL SIDE OF THE BANK?

8. I NEED SOME CERTIFIED CHECKS MADE PAYABLE TO (abcd) CAN YOU ASSIST ME?

9. HOW MUCH CASH CAN I TAKE WITH ME WHEN THIS APPOINTMENT IS COMPLETED?

NOTE: LIMITED CASH AND A CERTIFIED CHECK IS WHAT WE RECOMMEND

10. IF I COME BACK TO EXCHANGE MORE WILL I HAVE THIS SAME RATE?

11. WHAT PRODUCTS & SERVICES WILL THE WEALTH MANAGEMENT TEAM PROVIDE?

12. EXPLAIN TO ME HOW THE SWEEP PROCESS WILL WORK?

13. WHAT ARE THE ADVANTAGES & DISADVANTAGES OF THESE ACCOUNTS?

14. WILL LOANS AND LINES OF CREDIT BE PROVIDED?

15. IS THIS ACCOUNT ACTIVE TO RECEIVE BANK WIRES NOW? (EXPLAIN THE PROCESS)

16. WHAT PRODUCTS & SERVICES WILL COME WITH THE WEALTH MANAGEMENT TEAM?

17. PLEASE GO OVER ALL OF THE DOCUMENTS WITH ME I WILL BE SIGNING?

18. TELL ME A LITTLE BIT ABOUT THE HISTORY OF THIS BANK?

19. HOW ARE MY DEPOSITS PROTECTED AGAINST BANK COLLAPSE, GOVERNMENT THEFT, AND BANK THEFT?

20. WHAT KIND OF INTEREST RATES WILL I BE LOOKING AT?

21. WHAT TYPE OF CREDIT CARDS AND DEBIT CARDS DO I QUALIFY FOR NOW?

22. WHAT ARE MY CHECKING & SAVINGS ACCOUNT OPTIONS?

23. IF I HAVE QUESTIONS TOMORROW WHO DO I NEED TO CONTACT?

23. DO YOU HAVE A BUSINESS CARD?

24. IS THIS CURRENCY EXCHANGE TAXABLE AND WHAT IS THE RATE OF THE TAX?

25. WILL THIS TRANSACTION BE REPORTED TO FINCEN?

26. TELL ME ABOUT YOUR ONLINE BANKING (NOTE: WE DO NOT ADVISE ONLINE BANKING)

27. WHAT IS THE COST TO EXECUTE TRADES, , BONDS, ETC?

28. WHAT TYPE OF ADDITIONAL INSURANCE CAN I PLACE ON MY MONEY VIA PRIVATE BANKING & WEALTH MANAGEMENT

29. IS THERE AN EXCHANGE WINDOW IF I HAVE MORE CURRENCY TO EXCHANGE?

30. IS MY MONEY PROTECTED AGAINST DEVALUATION OF THE USD?

31. TELL ME ABOUT YOUR BANK PERKS?

32. ARE THERE ANY STIPULATIONS WITH THE CONTRACT RATE? (IF AVAILABLE)

33. WHAT ARE THE STIPULATIONS WITH THE STREET RATE?

34. WHAT ARE THE KEY POINTS OF THE NDA (IF APPLICABLE)

35. CAN I CONTACT MY ATTORNEY BEFORE I SIGN THESE DOCUMENTS?

36. IF I DO NOT TAKE THIS APPOINTMENT WILL MY RATE CHANGE?

37. WHAT ARE THE STIPULATIONS WITH THE MARKET RATE?

38. CAN YOU SHOW ME THE RATES ON THE SCREEN PLEASE?

39. CAN I HAVE A COPY OF THE DOCUMENTS FOR MY LEGAL TEAM
TO REVIEW?

40. WILL THE RATE DROP IF I COME BACK TO EXCHANGE MORE CURRENCY?

41. IF I HAVE MORE CURRENCY CAN I COME BACK AND EXCHANGE AT SAME RATE?

42. IF I HAVE MORE CURRENCY ARE THERE DIFFERENT RATE TIERS?

43. ARE THERE ANY TIME LIMITS ON RATES OF EXCHANGE?

44. CAN YOU EXCHANGE INTO LOWER DENOMINATIONS?

45. IS THERE AN EXPIRATION ON THE LARGE NOTES?

46. IS THERE A CAP ON THE AMOUNT I CAN EXCHANGE WITH YOUR BANK?

47. CAN YOUR BANK ASSIST ME WITH RESERVES/LAYAWAYS AND HOW
DOES THAT PROCESS WORK?

48. CAN I EXCHANGE WITH MY LLC, IBC OR TRUST?

49. AM I EXCHANGING INTO NEW TREASURY NOTES?

50. IF I USE AN MCA (Multi Currency) ACCOUNT WILL MY CURRENCY STAY IN THE
CURRENCY OR CONVERT TO USD.

51. WHAT IS THE INSURANCE COVERAGE ON MY DEPOSITS?

52. AM I EXCHANGING INTO FEDERAL RESERVE NOTES OR TREASURY NOTES?

53. CAN YOU EXPLAIN YOUR BANKS BASEL STATUS & HOW DID YOUR BANK RATE IN BANK STRESS TESTS?

54. HOW MUCH DOES YOUR BANK HAVE IN DERIVATIVES?

55. HOW WOULD YOU RATE AND COMPARE YOUR BANK TO OTHER INSTITUTIONS?

56. HOW HAVE THE NEW OCC REGULATIONS, VOLCKER RULE, DODD FRANK, & BASEL REQUIREMENT IMPACT YOUR BANK?

57. CAN YOU EXPLAIN TO ME HOW YOUR FINCEN REPORTING WORKS?

58. WHAT TYPE OF ACCOUNT ARE THESE FUNDS GOING INTO AND I DO NOT WANT TO COMINGLE DIFFERENT CURRENCIES AND WOULD LIKE SEPARATE ACCOUNTS FOR EACH CURRENCY?

59. WHAT IS THE DIFFERENCE IN A CURRENCY EXCHANGE AND A CURRENCY INVESTMENT WITH YOUR BANK?

60. WHAT OTHER OPTIONS ARE AVAILABLE IF I DECIDE TO EXCHANGE MORE CURRENCY AND IS MY EXCHANGE RATE NEGOTIABLE

61. PLEASE SHOW ME THE RATES CURRENTLY ON YOUR BANK SCREEN BEFORE I EXCHANGE..